| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1650 Forest Ave, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1980 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1650 Forest Ave, Chico CA Multifamily Investment
Renter-occupied housing is elevated in the surrounding neighborhood, supporting a deeper tenant base, and neighborhood occupancy trends sit near the metro median according to WDSuite’s CRE market data.
This Inner Suburb pocket of Chico ranks 2nd of 74 metro neighborhoods with an A+ neighborhood rating, indicating strong overall fundamentals compared with local peers. Amenity access is a differentiator: amenity density trends in the top quartile nationally, with food, pharmacy, and daily-needs retail notably proximate.
From an investor lens, the share of housing units that are renter-occupied is high for the metro (59% renter concentration), which points to a sizable multifamily demand base and supports leasing depth. Neighborhood occupancy is around the metro median and has been relatively stable over the past five years, which can aid underwriting for steady operations.
Within a 3-mile radius, population and households have expanded over the last five years, and forecasts indicate additional household growth alongside smaller average household sizes. That combination typically enlarges the renter pool and can support occupancy stability and lease-up velocity for well-positioned product.
Median home values in the neighborhood sit above national norms, and the value-to-income ratio is elevated, signaling a high-cost ownership market for many households. In practice, that dynamic tends to reinforce reliance on multifamily housing and can bolster retention and pricing power for competitively positioned communities. Contract rents are in the upper half nationally and have climbed over the last five years, underscoring durable renter demand.
The property’s 1980 vintage is older than the neighborhood’s average construction year (1991). For investors, that typically implies capital planning for building systems and common-area refreshes, alongside potential value-add upside through unit renovations to compete against newer stock.
Safety indicators for this neighborhood trend weaker than many parts of the Chico metro. The area ranks in the lower tier among 74 metro neighborhoods on crime measures, and it sits below the national median (lower national percentile indicates comparatively higher reported incidents). Investors should underwrite with prudent security, lighting, and operational controls, and evaluate recent property- and violent-offense trends at the submarket level.
According to WDSuite’s CRE market data, year-over-year changes are mixed: violent incident estimates have increased recently while property incident estimates were roughly flat. As always, block-level conditions vary; on-site measures and resident engagement can materially influence outcomes relative to neighborhood averages.
1650 Forest Ave combines a top-ranked Inner Suburb location with deep renter demand drivers. The neighborhood is among the strongest in the Chico metro by overall rating, amenity access is robust, and homeownership costs are comparatively high versus incomes, which tends to sustain reliance on rentals. Within a 3-mile radius, recent population and household growth — alongside forecasts for additional household gains — support a larger tenant base and steady leasing. Based on commercial real estate analysis from WDSuite, neighborhood occupancy tracks near the metro median, suggesting stable operations for competitively positioned assets.
Built in 1980, the asset is older than the neighborhood average vintage, which points to clear value-add pathways through systems upgrades and interior renovations to sharpen competitive positioning against newer stock. Pairing targeted capital with strong local amenity access and a high renter concentration can create durable demand and support rent and occupancy performance through cycles.
- High renter concentration and strong amenities support durable leasing demand
- Neighborhood occupancy near metro median underpins operational stability
- 1980 vintage offers value-add potential via renovations and system upgrades
- Elevated ownership costs reinforce reliance on multifamily housing
- Risk: neighborhood safety ranks weaker than many metro peers; prudent on-site measures advised